In my quiet time with the Lord this morning, I was reading about Financing the Work of God’s Kingdom. The bottom line was that one of God’s most neglected commandments is the requirement to tithe.
Because of this (not tithing), we have a larger tax bite as the Government controls more and more areas of society that biblically belong to individuals, families, churches and voluntary organizations, which should be supported by the tithe and free will offering. Thus, Socialism, via the Government, grows as Christian responsibilities ,via the tithe, declines.
In reality there is no way to avoid paying the tithe. Either we will pay it to God with a willing heart or to the Government through coercion. By refusing to pay the tithe to God, an individual proclaims that God has no claim on him. As one commentator said, “Wherever our tithe is paid, (God or government), there is our God.”
As the people of God gave up their God-ordained responsibilities in the area of education, disaster relief, financial counseling, charity loans, legal aid or care for the poor, the Government assumed them.
You might be thinking, Ron you’ve gone from meddling to preaching. What has tithing to do with real estate auctioneering and estate sales. Well it has a lot to do with it.
As I have gotten older, my clientele has also gotten older. These are folks that have accumulated property, both real and personal, over a 40 to 50 year period and are ready to downsize. They want to leave as much as they can intact to their children or other heirs, without the government taking most of it by way of taxes (to fund more socialism).
There are many taxes to consider when transferring property. One tax consideration is the gift tax. The gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. The tax applies whether the donor intends the transfer to be a gift or not. The gift tax applies to the transfer by gift of any property.
Currently you can give away up to $14,000 each year to each donee (person receiving the gift) without incurring any gift tax. Rather than give your child, grandchild, or heir, $50,000 in a given year, you need to spread it out over a period of years, not exceeding the $14,000 limit. (Caveat : anything I have said is not intended to be legal advice. Check with your own legal advisers.)
Depending upon the size of your estate and how it is owned, there are other tax considerations to be considered but my intention in writing this article was not to turn it into a treatise on estate or gift taxes but to say now is the time to start thinking and planning your estate.
Someone said, “One cannot steal something unless there is a prior owner.” God is owner of everything. He tells us that failure to pay the tithe is tantamount to theft. (Malachi 3:8).
If the people of God fail to tithe, they then transfer the obligation for social financing to another agency, viz., the Government, because it has the power to enforce the tax.
If every professing Christian would tithe, every congregation would be free from financial worry. If every Christian would tithe, the church would begin to make an impact on the world that could change it. If every Christian would tithe, government would have no reason to increase taxes to fund its social programs.
If you do not have any tax advisors, we know qualified estate planners, attorneys and accountants that can assist you with your planning and downsizing needs. Of course we can assist you in liquidating any assets, both real and personal.